Form 15 h
This query is : Resolved
11 July 2014
Assessee is senior citizen
Interest income-400000
pension- 270000
80c 100000
TOTAL 570000
NOW bank has not deduct any tds and assesse has not submitted form 15h
1}what will be his tax liability for AY 2014-15?
2}WHETHER HE WILL DEPOSIT TAX OR ASK BANK TO DEDUCT TDS ON INTEREST INCOME?
3}WHETHER HE CAN FILE FORM 15H
Interest income-400000
pension- 270000
80c 100000
TOTAL 570000
NOW bank has not deduct any tds and assesse has not submitted form 15h
1}what will be his tax liability for AY 2014-15?
2}WHETHER HE WILL DEPOSIT TAX OR ASK BANK TO DEDUCT TDS ON INTEREST INCOME?
3}WHETHER HE CAN FILE FORM 15H
11 July 2014
if he is above 80 years in fy 2013-14 then only 70,000 is taxable.
2.he needs to pay tax on his own.
3.now 15H cannot be filed as his income exceeds the max amount not taxable i.e500,000
2.he needs to pay tax on his own.
3.now 15H cannot be filed as his income exceeds the max amount not taxable i.e500,000
11 July 2014
NOW IS THERE ANY TIME LIMIT FOR DEPOSITING TAX FOR AY 2014-2015, HE HAS NOT FILED RETURN YET
11 July 2014
last date is 31.7.2014. he can deposit the tax with bank or online .
11 July 2014
then only 2,50,000 limit is available and rest is taxable.
12 July 2014
yes must pay n also file return on or before 31.7.2014.
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